Published by Global Banking & Finance Review®
Posted on June 12, 2025
1 min readLast updated: January 23, 2026
Add as preferred source on GoogleLone Star sells its 75% stake in Novo Banco to BPCE, valuing the bank at €7 billion. The deal marks BPCE's expansion in Portugal.
LISBON (Reuters) -U.S. private equity fund Lone Star has decided to sell its 75% stake in Novo Banco to French banking group BPCE in a deal that would value Portugal's fourth-largest lender at around 7 billion euros ($8.14 billion), Portuguese economic news outlet ECO said on Thursday.
ECO said the "decision has been taken" and should be communicated to the market later on Thursday.
With this decision, Lone Star is abandoning the option of Novo Banco making an initial public offering that was advocated by Novo Banco management.
The Portuguese state and a banking resolution fund, which is financed by Portugal's banks, control the remaining 25% stake and enjoy a tag-along clause that allows them to sell on the same terms as Lone Star.
In Portugal, BPCE has only a small consumer credit operation and its subsidiary Natixis has a technology centre focused on IT services and support for the group's banking activities.
($1 = 0.8600 euros)
(Reporting by Sergio Goncalves; editing by Andrei Khalip)
U.S. private equity fund Lone Star is selling its 75% stake in Novo Banco.
The buyer is the French banking group BPCE.
The Portuguese state and a banking resolution fund control the remaining 25% stake in Novo Banco.
Lone Star was considering an initial public offering for Novo Banco, which was advocated by the bank's management.
BPCE has a small consumer credit operation in Portugal and its subsidiary Natixis focuses on IT services and support for banking activities.
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